Cary Street Partners Investment Advisory LLC Amplifies Dell Technologies Inc. Stake by Over 450%

In an impressive expansion of its portfolio, Cary Street Partners Investment Advisory LLC has increased its stake in the well-established tech firm Dell Technologies Inc. (NYSE:DELL) by a remarkable 456.5% during the third quarter, as revealed by the latest 13F filings with the Securities and Exchange Commission (SEC). The investment advisor now holds 1,280 shares of Dell's stock, having added 1,050 shares during the quarter. The value of Cary Street Partners' investment in Dell Technologies is reported to be approximately $88,000 at the time of the last SEC filing.

Broader Investment Activity in Dell Technologies

The bullish sentiment on Dell is echoed across various institutional investors. For example, Rise Advisors LLC has tripled its ownership in the third quarter, now holding 357 shares valued at $25,000. Brown Brothers Harriman & Co. initiated a new position in the first quarter, investing around $27,000 into Dell. Compass Wealth Management LLC, followed suit in the fourth quarter, with an investment approximate to $28,000. Similarly, Tower Research Capital LLC TRC boosted its stake by 263.8% in the first quarter, holding shares worth $29,000, and KB Financial Partners LLC started a new position in the second quarter valued at approximately $32,000. Overall, hedge funds and other institutional investors own about 38.10% of Dell's outstanding stocks.

Insider Sales and Analysts’ Views

On the insider front, there was a significant stock sale by Director Iv (Gp) L.L.C. Slta, who disposed of 239,112 Dell Technologies shares at an average price of $79.43, totaling almost $19 million. Despite this sale, the director still possesses 293,812 shares, estimated at over $23 million. Dell's stock ownership by corporate insiders stands at 48.60%.

Market analysts are taking note of Dell's potential, with multiple brokerages updating their outlooks. For instance, Evercore ISI and JPMorgan Chase & Co. have both raised their price targets for Dell, suggesting a strong 'buy' sentiment. Wells Fargo & Company, Raymond James, and TD Cowen have also increased their price targets, while one analyst rated the stock as a 'sell' and one as a 'hold.' The prevailing average analyst rating for Dell is a 'Moderate Buy' with an average price target set at $85.13.

Performance and Dividends

Dell's stock saw a 1.8% rise, opening at $93.25 recently, with a 52-week range between $35.96 and $94.99. Its market capitalization stands at $66.35 billion, with a PE ratio of 25.76, and the stock has seen a steady upward curve in its moving average prices. Dell reported earnings per share (EPS) triumphing analysts’ estimates, a revenue of $22.25 billion, and expects an EPS of 5.66 for the current fiscal year. Additionally, the company recently announced a quarterly dividend of $0.37 per share.

Company Overview

Dell Technologies Inc. offers a broad range of solutions and services globally, operating primarily through its Infrastructure Solutions Group and Client Solutions Group. It continues to be a significant player in the technology sector.

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